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Changes to Grupo Security Board of Directors

Francisco Silva, one of the Group’s founders, has resigned as Chairman of the Board after a distinguished, 36-year career with the organization

August 4, 2022


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At a board meeting held today, August 4th, Francisco Silva tendered his resignation as director and Chairman of Grupo Security, stepping down after a successful, 36-year career with the organization. He is one of the original founders of Banco Security Pacific, which became Grupo Security in 1991.

The Board appointed Renato Peñafiel to replace him as Chairman. Until today Mr. Peñafiel served as the Chief Executive Officer of Grupo Security and was also one of its founders.

In August Francisco Silva will also step down as Chairman of Banco Security and the other Group subsidiaries, positions that will be taken on by Renato Peñafiel.

The Board of Grupo Security recognized Mr. Silva’s work and career and thanked him for his vast contribution to the company’s development as a major market player considered among the listed corporations with the largest market presence in Chile. “Francisco leaves an unforgettable mark on each of the Group companies, which today are leaders in their markets and at the forefront of industry development,” commented Renato Peñafiel.

At the Board’s request, Silva will remain involved with Grupo Security, advising on matters of expertise and participating on diverse credit, finance, investment and digital technology committees.

The Board has named Fernando Salinas as the new Chief Executive Officer of Grupo Security to replace Renato Peñafiel. Fernando Salinas has been with the Group for 19 years, most recently as Corporate Finance and Performance Manager.

“These changes are part of a planned process aligned with our corporate policies that enable us to continue strengthening our organization to face internal challenges and the profound changes taking place in the financial world,” affirmed the new Chairman of Grupo Security, Renato Peñafiel.